Company spokesman Tim Deighton said this morning the bank didn't know how many jobs will be lost in Birmingham, Regions' headquarters. A 4 percent cut of the company's 6,000 current Birmingham jobs would mean unemployment for 240 people.

Deighton said the company plans to continue growing in its headquarters city. Depsite today's cuts, Birmingham will gain 100 jobs by the end of the year, Deighton said. The city has already gained 400 jobs since last year's combination of Regions and crosstown rival AmSouth Bancorp., Deighton said.

The job cuts are money-saving moves related to the combination with AmSouth, Deighton said. The company has to save $400 million in operating expenses this year to keep pace with forecasts it furnished to investors, who expect the combination to create efficiencies of scale and increase profits and share prices.